Interest received by foreman of chit on defaulting subscriptions not leviable to GST: Kerala HC

Kerala State Financial Enterprises Ltd Vs Union Of India (Kerala High Court) Kerala High Court held that amount of interest received by the foreman of a chit on defaulting subscriptions cannot be said to be amounts received as consideration for the supply of services. Thus, the same is not leviable to GST. Facts- The petitioner is a company incorporated under the Companies Act, 1956, and is wholly owned by the Government of Kerala. It is primarily engaged in the business of conducting chits. It is before this Court challenging show cause notice dated 21-04-2022 inter alia calling upon the peti...